Inox Green Energy Services Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025. The report, prepared by CARE Ratings Limited, confirms the utilization of proceeds from the ₹1050 crore preferential issue. As of the quarter end, the company utilized ₹445.83 crore for Investment in Subsidiaries and ₹109.64 crore for Debt Repayment, with ₹56.64 crore utilized for General Corporate Purposes. The unutilized funds amounted to ₹62.89 crore.
Monitoring Report for Preferential Issue Proceeds Submitted
Inox Green Energy Services Limited has officially provided the quarterly Monitoring Agency Report concerning the utilization of funds raised through its Preferential Issue. This report covers the period ending December 31, 2025 (Q3 FY26). The total issue size aggregated to Rs. 1050.00 crore.
Status of Fund Utilization (Q3 FY26)
The details of the funds utilized across the key objects are as follows:
- Debt Repayment: Total allocation was Rs. 110.00 crore. The utilization reached Rs. 109.64 crore by the end of the quarter, showing no utilization during the quarter itself.
- Investment in Subsidiaries: Total allocation was Rs. 690.00 crore. During Q3 FY26, the company spent Rs. 203.33 crore on this object, bringing the cumulative utilized amount to Rs. 445.83 crore.
- General Corporate Purposes (GCP): Total allocation was Rs. 250.00 crore. The company utilized Rs. 1.09 crore during the quarter, resulting in cumulative utilization of Rs. 56.64 crore.
Unutilized Funds and Deployment
The Monitoring Agency confirmed that the total unutilized amount remaining as of December 31, 2025, was Rs. 62.89 crore. This unutilized amount has been parked in deposits with scheduled commercial banks and as a balance in the Monitoring Account. Details of deployment include:
- Term deposits with ICICI Bank: Total invested was Rs. 79.65 crore.
- Net profit realized on previous investments: (Rs. 16.76 crore) was deducted.
- The final total unutilized proceeds figure stood at Rs. 63.02 crore (Market Value as at the end of the quarter).
Compliance and Delays
The Monitoring Agency noted that the utilization of proceeds is in line with the disclosures made in the Offer Document, with no deviation reported for the quarter. Furthermore, for all specified objects, the Board noted that there is no delay in implementation, as the completion date remains ‘Ongoing’ and is set within 18 months from the receipt of funds, which is compliant.
Material Information Update
The report highlighted a key event: Pursuant to exchange filings dated January 23 and January 28, 2026, the company allotted 2,67,86,550 equity shares upon conversion of warrants. The remaining warrants (76,96,206) were cancelled, and the upfront payment received for them was forfeited. The Board confirmed this event will not have a material impact on the operations or objects of the issue.
Source: BSE
